Peloton Stakes 200 Additional Claims at the North Elko Lithium Project Bringing the Total Ground Position to 53 Square Kilometers or 20 Square Miles

Executive Summary

• Peloton Minerals staked an additional 200 mineral claims at its North Elko Lithium Project (NELP), increasing total coverage to 642 claims (~53 km²).
• Recent drilling adjacent to Bell Canyon Road returned strong lithium grades, with the bottom 155 ft averaging 618 ppm Li and the deepest sample measuring 1,150 ppm Li.
• All four drill holes to date showed consistent cesium (77 ppm) and rubidium (121 ppm) assays, prompting planned metallurgical work on these critical elements.

Key Details

• Claim Expansion: 200 new claims added; total now 642 claims (53 km² / 20 sq mi).
• Location: Claims contiguous with the former southern boundary of NELP, fully covering Bell Canyon and Bell Canyon Road.
• Drilling Highlight: One hole beside western Bell Canyon Road:
• Bottom 155 ft average lithium concentration: 618 ppm.
• Deepest sample lithium concentration: 1,150 ppm.
• Hole terminated in claystone mineralization; deeper drilling planned for next program.
• Geophysical Context: Site selected based on proximity to NW‑oriented lithium zone discovered by Surge Battery Metals on adjacent property, tTEM surveys, and historic 1965 water‑well drill logs showing similar clay sequences.
• Cesium & Rubidium Results: Across four widely spaced holes (7 km × 3.5 km):
• Average cesium: 77 ppm.
• Average rubidium: 121 ppm.
• Consistent assays from top to bottom of all drill cores.
• Future Work Plan:
• Winter study phase combining airborne, surface, and subsurface datasets to refine summer follow‑on drill targets.
• First‑pass metallurgical testing to assess recoverability of cesium and rubidium.
• Detailed work plan to be released after winter studies are finalized.
• Qualified Person: Dr. Richard C. Capps, PhD (Senior Geologist & Director) has approved all technical information under NI 43‑101.

Notable Quotes

“The new claim position and recent drill results reinforce the significant lithium potential at NELP and provide a strong foundation for our upcoming summer drilling program.” – Edward (Ted) Ellwood, MBA, President & CEO, Peloton Minerals Corporation.